Sec. 14. Reinsurance program
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Section 51008 of the Fixing America’s Surface Transportation Act ( 12 U.S.C. 635 note) is amended— in the section heading, by striking ; Pilot in subsection (a), by striking pilot ; in subsection (b)(1), by striking $1,000,000,000 and inserting $2,000,000,000 ; and by striking subsections
(c)through
(e)and inserting the following: In implementing this section, the Agency shall, with respect to a reinsurance pool, pursue appropriate objectives to reduce risk and costs to the Agency, including by the following, to the extent practicable: Ensuring a reasonable diversification of risks. Including larger exposures where the possibility of default raises overall portfolio risk for the Agency. Excluding transactions from the pool that are covered by first-loss protection. Excluding transactions from the pool that are collateralized at a rate greater than standard market practice. Diversifying reinsurance pools by industry and other appropriate factors. Exploring different time periods of coverage. Exploring both excess of loss structures on a per-borrower as well as an aggregate basis. Not later than 1 year after the date of the enactment of this subsection, and every 2 years thereafter through 2029, the Agency shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a written report that contains an assessment of the use of the program carried out under subsection
(a)since the most recent report under this subsection. Nothing in this section shall be construed to limit any authority of the Agency described in section 2(a)(1) of the Export-Import Bank Act of 1945. .
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Sec. 14
Reinsurance program
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